Two important roles of government in the economy are to safeguard private property and enforce contracts
a. True
b. False
A
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Use the following balance sheet data for the First National Bank to answer the next question.AssetsLiabilities + Net WorthReserves$50,000Checkable deposits$120,000Loans75,000Stock shares130,000Securities25,000 Property100,000 If a check for $14,000 is drawn and cleared against this bank, then its reserves and checkable deposits will be, respectively
A. $50,000 and $120,000. B. $36,000 and $106,000. C. $36,000 and $120,000. D. $50,000 and $106,000.
Refer to Figure 10.8. Other things equal, an increase in the price level would best be represented by
A) a movement from point A to point C. B) a movement from point A to point D. C) a shift from LM1 to LM2. D) a shift from LM2 to LM1.
To eliminate a recessionary gap, the expenditure schedule should be
a. shifted downward. b. shifted upward. c. made steeper. d. made flatter.
For a competitive firm, the marginal cost curve
A. the short-run supply curve at all viable production levels b. shifts to the upward when new firms enter the market. c. shifts upward when wages decrease. d. is the short-run demand curve.